by Carie McMichael | photos by The ReDevelopment Group
Petula Clark really put it best when she sang, “When you’re alone and life is making you lonely, you can always go downtown.” Throughout the U.S., downtown Indianapolis has garnered a reputation as a buzzing hub of activity that steadily evolved into a haven for sport fanatics and economic growth—a well-known destination for both work and play, but not everyday living. But downtown living is making a comeback, and locals are hopeful residential development will grow their storied community.
Downtown development has trended upwards since the 1970s, primarily to facilitate growth in downtown employment, leading to projects like AUL Tower (1982), Market Tower (1988), and Salesforce Tower (2020). Projects like Banker’s Life Fieldhouse (formerly Conseco) in 1999 and Lucas Oil Stadium in 2008 drew sports fans downtown and into its bars and restaurants. But until the 2010s, after games were over and the clock-out cocktails ran dry, locals went home to surrounding neighborhoods that had experienced a resurgence of their own.
The number of people living downtown has more than doubled since 2015, increasing the demand for residential housing. In their 2025 Community Report, the non-profit organization Downtown Indy Alliance reported that Naptown’s epicenter was becoming a safer, cleaner place to live. “We saw some improvements in safety and cleanliness, specifically with downtown property owners,” President and CEO Taylor Schaffer says, “That’s a really wonderful thing as we continue to invest those economic enhancement district dollars in those core services.”
In the opening letter to the report, Schaffer connects the past year’s data points with a hopeful picture of Indianapolis’ revitalization of the old while paving the way for the new, “This past year, everywhere you turned in Downtown Indianapolis, something new was taking shape. Cranes on the skyline. Fresh storefronts. Bigger events. More people choosing to live, work, and gather here.”
Builders like The ReDevelopment Group (Redev) have made it their mission to fortify declining communities downtown. After stabilizing neighborhoods like Holy Cross and the Old Northside, Redev has now turned their focus towards the Sycamore and Charles Street area south of Lucas Oil Stadium for a 16-unit townhome development.
“For the south side of downtown, there is a lot of activity recently completed and planned in the near future to support our investment and development activities,” says Redev President, Josh Dubach. “Our other projects are situated in established areas of the market.” The group also has remodels underway in the Beilouny building at Mass Avenue and College Avenue, as well as completing a custom home in Lockerbie Square, one of Indianapolis’ oldest neighborhoods.
The target demographic for Redev’s developments has consistently included young professionals, empty nesters, and families that prefer the walkable and vibrant urban living experience.
Population growth in particular has been driven by young singles and families, with the median age recently dropping to 31.5 years old. Dubach predicts that a more forgiving market will continue this growth over the next 5-10 years. “We are still very bullish about the downtown market and expect that the softening interest rates, the new cost of construction being the expected norm, and the significant infrastructure improvements all over downtown will continue to attract urban dwellers.”
Redev isn’t alone in downtown redevelopment for luxury living. Hendricks Commercial Properties, the group behind the Bottleworks District on Mass Ave., won a bid for redevelopment of the Circle City Mall into a mixed-use property in 2023 with a projected completion date for 2028. In addition, Keystone Realty Group, a real estate development and management company also intends to bring luxury living to downtown in the former AT&T building on the 200 block of Meridian.
Groups like Redev and the Downtown Indy Alliance eagerly agree that downtown Indianapolis is on the rise. From the expansion of the Indianapolis Cultural Trail and the Bottleworks renovation to the overall improvement in safety, cleanliness, and emotional connection to the downtown area, Indy residents are poised to move closer to the nucleus of this booming community.
